Highlights

• Mineral Commodities’ (ASX:MRC) subsidiary Mineral Sands Resources has wrapped up the Phase 1 of resource definition drilling from Prospecting Right for De Punt Inland Strands.
• Of the 6,000m exploration program, 6,018m of air core drilling from 169 holes has been completed.
• Around 149 of the total holes drilled have notable intercepts.
• The company has received 6,018 assays from the drill campaign.
• Maiden Mineral Resource is expected to be announced next month.

ASX-listed Mineral Commodities Ltd (ASX:MRC) has shared that its 50%-owned subsidiary, Mineral Sands Resources (Pty) Ltd (MSR) has completed the Phase 1 of resource definition drilling from Prospecting Right for De Punt Inland Strands.

The global mining and development company is anticipating to announce a Maiden JORC Mineral Resource for the De Punt prospect next month. MRC is planning to advance development related activities at the deposit at a faster pace.

Data source: company update

Details about De Punt Prospecting Right

The company was granted the concerned Prospecting Right 10240PR on 28 July 20222 to explore Inland Strands. It was marked as MRC’s prime focus to follow its Strategic Plan to amplify asset value of Tormin by increasing mineral resources through organic growth.

MRC conducted an airborne magnetic and radiometric (AMR) survey over the De Punt Prospecting Right in August 2022. It was performed with two main linear magnetic trends, the Western linear trend and the Eastern linear trend, detected within the tenement.

Total seven prominent drilling targets have been marked at De Punt, over the strike of the Western and Eastern Strandlines extensions, across ~700 hectares area. As per the release, the strandlines are a concentration of high-grade Valuable Heavy Minerals, mineralogically and lithologically, with horizons spread over the strandlines as an erosional surface facies, an aeolian facies, and red aeolian sands deflation zones which have been mineralised.

VHM consists of magnetite, rutile, ilmenite, zircon and garnet. Phase 1 of the resource drilling at De Punt began last year in October, targeting the Western geophysical aeromagnetic anomaly.

Overview of Resource Definition Drilling

The drilling program was focused on defining resources along the Western Strandline with 169 drill holes drilled over 6,018m. The one-metre drillhole samples were sent to Tormin lab for assaying by XRD machines and to the external labs for QA/QC.

It was noted that intersections having grades over 5% VHM showed the high-grade nature of the strandline zones.

Data source: company update

MRC shares traded at AU$0.049 apiece midday 10 May 2023, up over 2% from the last close.